Is 799 a good beacon score?
799 is an Excellent credit score. Below is a way of interpreting your credit score. Given the current credit score stats, how does this relate to your own personal score? Generally, if your score is higher than 660, you will be considered a good credit risk. If your score is below 620, then you might have a tougher time getting a loan. The following ratings explain the impact of the different score ranges:
- 720-850 - Excellent - This represents the best score range and best financing terms.
- 700-719 - Very Good - Qualifies a person for favorable financing.
- 675-699 - Average - A score in this range will usually qualify for most loans.
- 620-674 - Sub-prime - May still qualify, but will pay higher interest.
- 560-619 - Risky - Will have trouble obtaining a loan.
- 500-559 - Very Risky - Need to work on improving your rating.
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Answer . BEACON is the trademarked name of a scoring software program. It uses the information displayed in an Equifax credit file. (Think Kleenex vs. tissue paper) Ther…e are many different versions of BEACON programs. Some of these are BEACON 96, BEACON 5.0 and BEACON Auto Enhanced. A score requested with each program would yield a different number, even though the data in your credit report was the same.\n. \nAll scoring programs originate with the Fair Isaac Company, headquartered in California (FICO). They lease FICO software to Experian (formerly TRW). EMPIRICA is leased by TransUnion. Consumers may also get their own version of a score from certain companies.
A 650 + is decent. 680+ is much better. 720+ is excellent and can support many loan programs and best interest rates. . 720-850 - Excellent - This represents the best s…core range and best financing terms. . 700-719 - Very Good - Qualifies a person for favorable financing. . 675-699 - Average - A score in this range will usually qualify for most loans. . 620-674 - Sub-prime - May still qualify, but will pay higher interest. . 560-619 - Risky - Will have trouble obtaining a loan. . 500-559 - Very Risky - Need to work on improving your rating.
A credit score derived from the application of a credit scoring model created by the Fair, Isaac Company to a consumer's credit file held by a credit reporting company. FICOÂ…® scores range from 300 to 850, but almost all consumers have a score between the 600s and 700s. A beacon score of 680 is considered to be falls into the 'Good' category by 5 points.
A Beacon score of 5 is impossible, the score ranges between 300 and 850. I'll assume you meant 500, this is considered to be 'very bad'.
The ABOVE average score is around 750. Once a person achieves a score of around 725 or more they are going to get the best interest rates available. Most banks guidelines for …determining your interest rates cutoff around 725, meaning that a person with a score of 725 will qualify for the same rate as someone with a perfect score of 850. So if your worried about getting that 850 score and your a 750 don't worry either way you are considered great to any bank. The average score today is 675. With the economy bad and the credit crunch happening if you are just average you may have a harder time obtaining a loan.
850 is the highest beacon score possible.
This means that you have no credit history according to equifax and thus they were not able to produce a beacon score.
It's not great, but it's not bad. 780 and above is excellent.
Determining a beacon score is difficult, they use a number of factors: Credit history length Payment history Credit utilization ratio Types of credit used
Yes your almost there, the coveted 700 Club
The Beacon version 5.0 is the formula which was created by FICO (Fair Isaac Company) and is used by Equifax to calculate a credit score. Considering that the average FICO sco…re in the US is 680, your score would fall just below average.
The beacon score is a very important equation in your credit score. It is a number generated by the Equifax Credit Bureau that determines ones credit worthiness.